Institutional money managers Emerald Asset Management and Beltraith Capital have launched a jointly-owned advisory firm, EmStone Advisers.
The new entity combines the portfolio management teams from Beltraith subsidiary StoneRidge PMG Advisers and Emerald subsidiary Emerald Direct Lending Advisers. Both StoneRidge PMG and Emerald Direct Lending will continue to operate independently.
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EmStone Advisers will provide actively managed, individually designed portfolios that include duration-controlled fixed income portfolios for lower volatility and structured solutions for enhanced return.
Under the terms of the deal, Beltraith Capital will hold majority stake in the newly created entity.
Beltraith CEO Steven Sanders said: "Our combined team averages over twenty-five years of institutional portfolio management experience with specific expertise tailored to today’s low-yield environment."
Emerald Asset Management and Beltraith Capital together had approximately $5.8bn in assets under management as of September 30, 2015.
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